Is software needed for benefits realization?

Has it ever occurred to you that software is needed for benefits realization?

Some people say to me that you don't need software but I know that when you do Benefits Realization fully the complexity and inefficiency of manual working is prohibative.

So what are the added benefits of using a tool such as Realisor?  ( http://realisor.com/ ) 

1. SPEED & COST: Fast and low cost benefits management process

You decrease the time (and therefore cost) taken to carry out the benefits realization process (from idea to realisation).

2. QUALITY: Quality plan & proposal estimates

You increase the quality of benefit estimates in business cases and investment board reviews by providing benefit data that is more evidenced, traceable and based on analysis. Giving greater confidence in estimates and decisions and expectations are based on more accurate data. 

3. CONFIDENCE: Plans that deliver benefits and capability needed

You minimise the risk that activities/ resources needed in plans to deliver expected benefits and capabilities are omitted. 

4. LEAN: Plans and designs are not over specified

You minimise the activities/ resources that are included in plans/ designs that either do not deliver needed capabilities/ benefits or over deliver them.

5. DECISIONS: Easy to compare proposals/ options

You increase the ease of comparing different business case/ proposals options, for example, so similar levels of data, rigour and analysis is available for all business cases/ proposals.

6. WAIT TIME: Speed and effort of creating business cases/ proposals

You increase the speed of creating different business case/ proposal options.

7. IMPROVEMENT: Identify improvement areas

You increase the ability to understand which activities are adding the most  to the objectives/ outcomes required. Changes can be proposed to the Program that give either the greatest benefit increase for lowest cost or most cost cutting for lowest impact on priority benefits.

8. RE-USE: Re-use of Program and Service information

You increase the ability to re-use a complete set of benefit and Programs/ plans information – this includes the speed and ease to rework existing ones to meet new requirements. New Programs are faster, cheaper and easier to set up.

9. STANDARDS: Standardization of Program activities

You increase the ability to re-use completed templates and approaches that have been proven to work.

10. MATURITY: Increase the maturity of Programs

You increase the level of maturity in Program management and need tooling and approaches that will enable us to increase maturity.

11. ENGAGEMENT: Fast and easy people engagement

You increase the ease, speed and impact of creating and sharing a single page graphical view of a Program and also to graphically show the flow of value to be delivered over time.

12. ACCOUNTABILITY: Increase Accountability

You increase the accountability of benefit owners and managers so the actions needed to manage and realize benefits are carried out fully and greater benefits can be realised.

Have we been doing it wrong? Beliefs and less Benefits.

I have a proposition to make - let's talk more about beliefs and less about benefits! I'd like to explain.

It's good to work closely with people, before, during and after change to drive greater benefits, isn't it?

As helpers, managers and leaders we use the word ‘benefit’ and in my experience this word alone can make eyes glaze over. People I speak to frequently think benefits realization is to create a map and then passively track and report. Do you find that too? 

They miss the point of what is a significantly value adding role.

I have some questions for you:

1. Should benefits realization make sure key stakeholders and experts feel in sync or on the same wavelength as each other?  (Rapport)
2. Should it help them to feel similar or relate well to each other in terms of what needs to be achieved and how to achieve it?   (Goal and Plan Alignment)
3. Should it help them agree and then do things to make it happen? (Achieve results together)

I propose that as helpers, managers and leaders we need to start focusing more on ‘beliefs’, and hopefully you agree if you answered YES to the questions above.

To achieve them then we have a duty to:

• Uncover what people ‘believe’ is needed and use these insights to challenge and structure a commonly accepted set of beliefs. E.g. this is what we believe is needed, what we need to do to get them and how they will contribute (a belief map rather than a benefit map?)
• Get people to acknowledge the reality of their situation – at the start of change and throughout – so it can be improved upon.
• Help people to change their own perceptions and then do what is needed.

To build rapport amongst people, to get their goals and plans aligned and then help them achieve results together we need to talk more about beliefs.

Let's now start talking more about beliefs and less about benefits. 

By doing this, I believe, benefits realization can truly drive greater benefits from change.

Benefits Realization - Why and How

Benefits Realization - Why and How

I was not happy with the last post - I felt that people deserved a more clear and compelling map.

So I ripped it up and set back to work.  The result is a high-level map - one version is below with just the outcomes and objectives on and the second with the initiatives needed to achieve the outcomes. Get and edit these using the links at the end of the post.

Click on to expand:

A summary: Benefits realization helps you get more value from your people, it improves planning, delivery and the impact of decisions and actions. This contributes to decreased costs, risks and greater results. These results, the impact on your reputation and the way people are involved and programs deliver all increase satisfaction of people who matter.

Below I've added in the key initiatives to help make this a reality.

The results don't come for free - there is a need to do some extra things and some different things. You don't need to do everything shown but the more you do then the better the results.

A summary: A journey is needed to change the way people think and how they behave to be more benefit and outcome focused (I-2). Information will need to be shared (I-3) and people supported (I-9).
For each program/ portfolio a model needs to be created of the benefits and other plan informations. This model needs to have choices on so people can choose different ways of delivering the program. The choice of plan needs to be made and information gathered and reviewed. Actions will need to be taken, as part of on-going management and governance.

I hope this is useful? I will publish more details on each of the outcomes and initiatives over the coming months. In the meantime feel free to download the map and use.

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If you find this diagram helpful, feel free to re-use, alter and reproduce it as you feel fit.
The diagram was created and can be edited (for free) in a visual programme mapping tool called Realisor.

Links:

• Find out more about Benefit Realization 
• Download the map shown above and open with Realisor - let me know if you'd like a copy by email: support@wovex.com